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REGISTERED NUMBER: 05164045 (England and Wales)















Unaudited Financial Statements

for the Period 1 July 2022 to 21 June 2023

for

Mulberry Innovations Limited

Mulberry Innovations Limited (Registered number: 05164045)






Contents of the Financial Statements
for the Period 1 July 2022 to 21 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mulberry Innovations Limited

Company Information
for the Period 1 July 2022 to 21 June 2023







DIRECTOR: O Nidai





SECRETARY: Mrs D Nidai





REGISTERED OFFICE: Building 3, North London Business Park
Oakleigh Road South
London
N11 1GN





REGISTERED NUMBER: 05164045 (England and Wales)





ACCOUNTANTS: AFE Accountants Limited
North London Business Park
Oakleigh Road South
New Southgate
London
N11 1GN

Mulberry Innovations Limited (Registered number: 05164045)

Balance Sheet
21 June 2023

21.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,935 2,601

CURRENT ASSETS
Stocks 361,170 488,800
Debtors 5 924,165 914,639
Cash at bank 391,789 287,709
1,677,124 1,691,148
CREDITORS
Amounts falling due within one year 6 959,361 1,102,650
NET CURRENT ASSETS 717,763 588,498
TOTAL ASSETS LESS CURRENT
LIABILITIES

719,698

591,099

PROVISIONS FOR LIABILITIES 826 826
NET ASSETS 718,872 590,273

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 718,772 590,173
718,872 590,273

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 21 June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 21 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mulberry Innovations Limited (Registered number: 05164045)

Balance Sheet - continued
21 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2024 and were signed by:





O Nidai - Director


Mulberry Innovations Limited (Registered number: 05164045)

Notes to the Financial Statements
for the Period 1 July 2022 to 21 June 2023

1. STATUTORY INFORMATION

Mulberry Innovations Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Mulberry Innovations Limited (Registered number: 05164045)

Notes to the Financial Statements - continued
for the Period 1 July 2022 to 21 June 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loads from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Impairment
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

Employee benefits
The cost of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognise as part of the cost of stock or fixed assets.

The cost of any material unused holiday entitlement is recognised in a period in which the employees services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2022 - 3 ) .

Mulberry Innovations Limited (Registered number: 05164045)

Notes to the Financial Statements - continued
for the Period 1 July 2022 to 21 June 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 21 June 2023 16,838
DEPRECIATION
At 1 July 2022 14,237
Charge for period 666
At 21 June 2023 14,903
NET BOOK VALUE
At 21 June 2023 1,935
At 30 June 2022 2,601

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
21.6.23 30.6.22
£    £   
Trade debtors 900,000 880,001
Other debtors 24,165 34,638
924,165 914,639

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
21.6.23 30.6.22
£    £   
Bank loans and overdrafts 28,761 38,465
Trade creditors 783,000 936,058
Taxation and social security 143,141 108,896
Other creditors 4,459 19,231
959,361 1,102,650

Mulberry Innovations Limited (Registered number: 05164045)

Notes to the Financial Statements - continued
for the Period 1 July 2022 to 21 June 2023

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 21 June 2023 and the year ended 30 June 2022:

21.6.23 30.6.22
£    £   
O Nidai
Balance outstanding at start of period 8,274 334,802
Amounts repaid (8,694 ) (326,528 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (420 ) 8,274

During the year the director repaid back £8,694 into the company. O Nidai and D Nidai were entitled to dividends of £26,000.